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IDT Entertainment, Twentieth Century Fox Ink Distribution Deal
Agreement provides IDT Entertainment’s animated feature films with major studio theatrical distribution.Newark-based IDT Entertainment, a subsidiary of IDT (NYSE: IDT, IDT.C) has signed a two-year, multi-picture distribution deal with Twentieth Century Fox. Under terms of the agreement, Twentieth Century Fox will distribute computer-generated (CG) animated theatrical releases produced by IDT Entertainment.
“IDT Entertainment has taken an important step towards its goal of producing and arranging distribution for its quality feature films,” said Jim Courter, IDT’s CEO. “Just as IDT’s unique blend of excellence and efficiency caused a revolution in the telecommunications industry, IDT Entertainment’s combination of high-quality animation and streamlined production is bringing innovation to the creation of computer-generated films.”
The agreement provides IDT Entertainment with the expertise, experience and effectiveness of one of the most successful CG animation distributors in the business.
“With our creative development and computer generated production capacity, as well as our financial strength, we are well positioned to become an important provider of animated feature films, and we look forward to working with Fox,” said Morris Berger, CEO of IDT Entertainment.Â
IDT Entertainment, a division of IDT Corp., is a vertically integrated entertainment concern that develops, produces, and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment’s subsidiaries include animation studios Film Roman, Mainframe Entertainment, and DKP Studios; distribution companies Anchor Bay Entertainment, Manga Entertainment, and IDT Entertainment Sales (IDTeS), and live-action production company New Arc Entertainment.
At the close of trading, IDT shares were down $0.01 to $13.04.
